The global plastic containers market size is expected to reach USD 82.00 billion in 2028, exhibiting a CAGR of 5.0% during the forecast period. The growing demand for rigid packaging from food and beverage manufacturers can have an excellent impact on the global market growth, states Fortune Business Insights, in a report, titled “Plastic Containers Market, 2021-2028.” The market size stood at USD 55.80 billion in 2020.

 

COVID-19 Impact:

 

The epidemic has impacted markets across the spectrum, with governments imposing restrictions on distribution and transportation and industrial closures disrupting the value chain. Due to a scarcity of manpower and a disturbance in the supply chain, the enterprises’ production capacities have been limited. As a result, demand for plastic container items is low. Moreover, China is a dominant player in the market. Regulations on the export of plastic products to and from the country have harshly affected the North American and European markets. In the wake of COVID-19, the consumer goods industry is facing a negative impact due to the primary focus on personal protective equipment, which, in turn, will dampen this market. Consumer goods companies are facing late deliveries and out-of-stock products. The pricing has increased from 5% to 10% as brands seek to find new vendors for bottles.

 

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The Report Lists the Key Players in the Market:

 

  • ALPLA (Hard, Austria)
  • Alpha Packaging (Missouri, U.S.)
  • Amcor (Zurich, Switzerland)
  • Plastipak Packaging (Michigan, U.S.)
  • Graham Packaging (Pennsylvania, U.S.)
  • RPC (Georgia, U.S.)
  • Berry Plastics (Indiana, U.S.)
  • Greiner Packaging (Kremsmunster, Austria)
  • Silgan Holdings Incorporated (Connecticut, U.S.)
  • CKS Packaging Incorporated (Atlanta, U.S.)
  • Fortex-Fortiflex (San Juan, Puerto Rico)
  • Altium Packaging (Georgia, U.S.)
  • Polytainers (Ontario, Canada)
  • Airlite Plastics (Omaha, U.S.)
  • Other Key Players

 

Driving Factor:

High Utilization of Rigid Plastic Containers to Favor Market

Rigid containers have shapes and forms that are relatively rigid. Because of their durability and lightweight, rigid plastic containers are becoming more popular in the food and beverage sectors. Food is safe and has a longer shelf life because of these qualities, which protect it against moisture, light, and chemicals. Furthermore, it is an effective packing material for storing and transporting food and drinks because of its small weight. The need for rigid containers in the food and beverage sectors will rise as people’s lifestyles change and their expenditure on packaged items rises, further enabling the market to grow during the forecast period.

 

Market Segments:

 

Based on material, the market is classified into polyethylene terephthalate (PET), polypropylene (PP), high-density polyethylene (HDPE), low-density polyethylene (LDPE), and others

 

Based on container type, the market is classified into bottle & jars, pails, tubs, cups & bowls, and others. The bottles & jars segment is expected to hold the largest plastic containers market share during the forecast period.

 

Based on end-user, the market is classified into beverages, food, pharmaceuticals & cosmetics, FMCG, and others.

 

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Regional Insights:

Booming Beverage Sector to Propel Market in Asia Pacific

The Asia Pacific region accounted for the highest market share, with China and India leading the way. The increasing beverage sector is responsible for the region’s growth. This drives up the need for plastic bottles to store water and fizzy beverages. Polyethylene terephthalate (PET) is the most common material used in beverage bottles. As a result, growing consumer expenditure on carbonated beverages would propel the market in this area to new heights. Moreover, due to the booming food and medicines industries in North America, the United States is the major donor. To prevent leakage of food and drinks in the food sector, stiff plastic bottles and jars are commonly employed.

 

Competitive Landscape:

Ongoing Advancements by Prominent Players to Intensify Market

The competitive landscape shows a fragmented industry with ALPLA as a key competitor. A diverse product range and ongoing advancements by the firm to develop new plastic items are key elements in the business’s leadership position.

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